Recent figures released by the Australian government have revealed that the Australian job market is showing some real endurance during these testing times.
Whilst it was expected that the unemployment rate would increase, at least marginally, economists were shocked to find that nothing has changed, despite the recession. This is good news for the Australian labour market as it means job cuts are not diminishing employment opportunities within the country. Now sitting at a steady 5.8 %, the unemployment rate is a good indication of a solid economy capable of maintaining the labour market.
This positive result has been attributed to a multitude of factors, but the most noted contributor is the Australian government’s commitment to stimulus spending in order to maintain the unemployment rate. It also indicates responsibility and commitment on behalf of employers, who are fighting to keep their staff working versus redundancy and unemployment.
This is great news for anyone currently employed or looking to find a job in Australia. Even better still are the reports regarding the financial services sector. Whilst the financial industry is in pretty bad shape, the world over, it has been reported that the financial services recruitment industry in Australia has been maintaining some sort of stability, despite the recession. Furthermore, the IFA reported that salaries across the senior financial areas have remained static over 2009, a huge rarity given the amount of salary cutting that is taking place worldwide.
All in all it seems Australia is definitely doing something right during this downturn, and I suppose you could put it this way… If I were job hunting right now, I’d want to be job hunting in Australia!
About the Author:
Julie Samuel is an enthusiastic freelance writer who enjoys researching and reporting on the Australian labour market, particularly Jobs in Australia.
Article Source: ArticlesBase.com - Australia’s Job Market Weathers the Recession Storm
